From Reuters: More banks in the Gulf Arab region may convert to Islamic finance in a bid to tap rising demand for sharia-compliant products and to avoid the heavy investment required to launch new banks.
A source told Reuters this month that Qatari investors are planning to buy a 25 percent stake in Ahli United Bank from Kuwaiti investors and have plans to convert Bahrain’s largest retail bank, which itself plans to take its Kuwaiti unit Islamic…………………………………..Full Article: Source